Friday, December 13, 2024
spot_img

Obama to contribute 5% of salary to US Treasury

Date:

Share post:

spot_img
spot_img

WASHINGTON: At a time when US is facing economic strain and automatic budgetary cuts is in place, US President Barack Obama will return five per cent of his salary amounting to USD 20,000 to the Department of Treasury.

The salary of the US President is USD 400,000 per annum (over Rs 2 crore) and in a show of solidarity he will return USD 20,000 (over Rs 10 lakh).

“Obama instructed his staff he wanted to do this when the sequester took effect,” White House press secretary Jay Carney said on Wednesday.

“The salary for the President, as with Members of Congress, is set by law and cannot be changed. However, the President has decided that to share in the sacrifice being made by public servants across the federal government that are affected by the sequester, he will contribute a portion of his salary back to the Treasury,” Carney said.

Obama plans to write checks to Treasury on a monthly basis, effective March 1, but will cut the first check in April. A day earlier, US defense secretary Chuck Hagel had announced a similar move.

Senator Mark Begich also announced that he would voluntarily give back part of his salary and that more than half of his staff members would have their pay cut this year. (PTI)

spot_img
spot_img

Related articles

Curtain comes down on IIM Shillong’s SUSCON-XI

Conference emerges as global platform for sustainability and climate change dialogues SHILLONG, Dec 12: The 11th edition of IIM...

Shillong Airport expansion plans under way

SHILLONG, Dec 12: The Airports Authority of India (AAI) is working on plans and proposals to expand the...

News Capsule

Lok Adalat The secretary of District Legal Services Authority, West Garo Hills, has informed that National Lok Adalat will...